The peso was the currency of Guinea-Bissau from 1975 to 1997 and was divided into 100 centavos. It replaced the escudo at par. In 1997, in an effort to stop high inflation, Guinea-Bissau adopted the CFA franc, using a conversion rate of 65 pesos to the franc.

History

The peso replaced the escudo in 1975. It was originally equivalent to the Portuguese escudo.

Historical exchange rates

Continued rapid inflation had eroded the value of the peso. By 1996, the exchange rate had reached 225 pesos per Portuguese escudo.

Coins

Coins were issued in denominations of 50 centavos, 1, 2 1/2, 5 and 20 pesos.

Banknotes

Banknotes in denominations of 50, 100, and 500 pesos dated 24-9-1975 (24 September 1975) were issued on 2 March 1976. 1000 peso notes were introduced in 1978, followed by 5000 pesos notes in 1984 and 10,000 pesos notes in 1990.